Charlotte Russe Holding, Inc. : fashion company profile on Apparel Search 
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Charlotte Russe: fashion store logo 2009Founded in 1975, the first Charlotte Russe store was opened in Carlsbad, California. Focused on women ranging from their teens to early twenties, the store offered customers access to major fashion trends at value-oriented prices. During the subsequent 20 years, Charlotte Russe grew to become a 35-store chain concentrated in Southern California with annual sales of $70 million. Since that time, the Company has expanded significantly, approaching 500 stores and $900 million in sales at the end of fiscal 2008.

Charlotte Russe is a growing, mall-based specialty retailer of fashionable, value-priced apparel and accessories. They are focused on providing exciting, fashion-forward merchandise that appeals to customers across age and socioeconomic boundaries, with a core emphasis on the lifestyle trends of young women in their teens and twenties. Their stores offer merchandise at value-oriented prices and the majority of our merchandise is sold under their proprietary Charlotte Russe labels, including Charlotte Russe, Refuge and blu Chic. The remainder of their merchandise consists of nationally-recognized brands popular with their customers. As of September 27, 2008, Charlotte Russe operated 487 stores throughout 45 states and Puerto Rico.

In 2007, our Board of Directors initiated a comprehensive review of strategy and operations and determined (with the assistance of experienced third-party retail consultants) that significant changes were necessary to improve operational performance and build greater value for stockholders. Based on this review, their Board moved aggressively to develop a strategic plan aimed at transforming Charlotte Russe into a high-performing, top-tier specialty retailer.

In November 2008, a new management team was assembled. John D. Goodman was named Chief Executive Officer, Emilia Fabricant was named President and Chief Merchandising Officer and Frederick G. Silny was named Executive Vice President, Chief Financial Officer, Treasurer and Corporate Secretary. This team joined Edward Wong, Chief Operating Officer, and Sandra Tillett, Executive Vice President, Store Operations, to form a well-qualified leadership team.

The Board and new management team are focused on implementing and further strengthening the strategic plan with emphasis on brand positioning, merchandise assortment, inventory optimization, real estate strategy and capital utilization to establish the necessary foundation for a new start in 2009.

They are redefining product selection with greater emphasis on trend-right fashion and value for sophisticated shoppers.

They have been following a strategy to apply measures designed to strengthen the Charlotte Russe brand, bring new operating discipline to the organization and create an elevated platform for growth. Their strategic plan focuses on the following:

Brand Positioning: they are further identifying their customer's lifestyle and shopping preferences to better meet her needs and increase her spend and redefining their brand image and visibility.

Merchandise Assortment:  they are redefining product selection with greater emphasis on trend-right fashion and value for sophisticated shoppers.

Inventory Optimization: they are improving productivity throughout the buying, planning and allocation process and resetting receipt flow and markdown cadence.

Real Estate Strategy: they are determining optimal store size, locations, layout/design and allocation of resources across the fleet to enhance profitability across all stores.

Capital Utilization: they are instilling a more disciplined and return-oriented approach to capital allocation, and establishing tools, metrics and procedures to improve visibility.

Charlotte Russe Holding Inc.
4645 Morena Boulevard
San Diego, CA 92117

Phone: (858) 587-1500
Toll Free: (877) 266-9327
Fax: (858) 587-0902

Learn more at the Charlotte Russe website.
 

  ML62609: Charlotte Russe

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Charlotte Russe is a growing, mall-based specialty retailer of fashionable, value-priced apparel and accessories.